Electronics Logging Device Market Technological Breakthroughs Trends and Forecas

Posted by chaitali gawande on July 19th, 2019

Electronic Logging Device (ELD or E-Log) is electronic hardware that is attached to a commercial motor vehicle engine to record driving hours. The driving hours of commercial drivers (truck and bus drivers) are regulated by a set of rules known as the hours of service (HOS). The Commercial Vehicle Driver Hours of Service Regulations vary in Canada and the United States. The U.S. Department of Transportation’s Federal Motor Carrier Safety Administration (FMCSA) announced that motor carriers would have to begin using electronic logging devices (ELDs) on all trucks and commercial buses manufactured after 2000. Now, drivers and carriers will be required to comply with ELD regulations. Those who are currently using automatic onboard recording devices (AOBRDs) or install them before the end of 2018 will be grandfathered in. They will have an additional two years to update to ELD-compliant technology.

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Electronics logging device and digital tachograph mandate to drive revenue streams for vendors and growing need for operational efficiency in fleet owning organizations will be one of the key features driving the growth of the electronics logging device market. One of the major driving forces in the European market is the regulation related to an electronic logging device known as the digital tachograph. Digital tachograph has been mandated in Europe since 2006 for all commercial vehicles with GVWR higher than 3.5 tons. Hence, in the current period, the majority of the new LCVs are factory-fitted with digital tachographs, and going forward all the LCVs should have digital tachograph. Cost sensitivity of fleet owners is a major hurdle in the deployment of advanced fleet management technologies. Further, one of the challenge in the market is lack of awareness among drivers and fleet owners in emerging countries.

The market is segmented on the basis of, vehicle type, form factor, component, services, and geographical region. On the basis of vehicle type, the market is segmented into light commercial vehicle, truck, and bus. On the basis of component, the global market is segmented into external display, telematics unit and others.

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On the basis of component, the global market is segmented into embedded and integrated. By industry vertical, electronics logging devices market can be segmented into entry-level services, intermediate services, and high-end services. By geographical region the global electronics logging devices market is split up into North America, Europe, Asia Pacific, Middle East & Africa and South America. North America is expected to have largest market share during estimated period and is expected to witness significant growth owing to the presence of large manufacturing and oil & gas companies working in this region. The region, along with Europe, is one of the developers in adopting new technologies, which is also one of the key factors for the high CAGR in this region.